The Deloitte AI Institute unveiled the third quarterly edition of its State of Generative AI in the Enterprise report, revealing the current landscape of GenAI adoption and deployment.
The report is based on a survey of 2,770 director to C-suite-level respondents across 14 countries who took part in the research – 200 of them based in the UK. Various industries are represented, with most organisations’ revenues exceeding £1 billion annually.
Some key takeaways from a UK perspective include:
• Over half (52%) of UK business leaders think GenAI will substantially transform their organisations in one-three years. 16% think it will transform within one year and 12% say it already has.
• Only 17% of leaders think that their business or operating model is under ‘a lot of the threat’ by the widespread adoption of GenAI tools and applications. 46% say it provides ‘some threat’.
• Over half of business leaders (62%) say their organisations are establishing a governance framework to actively manage risks around their GenAI implementation; 37% says they are using a human to validate all their GenAI content and a third (33%) say they are training practitioners to identify and mitigate risks around GenAI systems.
• Nine in 10 business leaders say their organisations have a level of trust in GenAI – with respondents having high (23%) and very high (9%) levels of trusts.
• In terms of the current levels of GenAI expertise, 90% of business leaders reported their organisations had some expertise (45%), high expertise (36%) and very high expertise (8%).
• In terms of the desired benefit, roughly over half (57%) of leaders want to see their organisation’s efficiency and productivity improve as a result of GenAI but so far only a third (37%) report that this was the most important benefit their organisation has achieved to date.
• Nearly two-thirds of UK business leaders (63%) report that their organisation is increasing its investment in GenAI.
Jim Rowan, Applied AI leader and principal, Deloitte Consulting LLP said:
As promising experiments and use cases begin to pay off, it’s clear that we have arrived at a pivotal moment for GenAI, balancing leaders’ high expectations with challenges such as data quality, investment costs, effective measurement and an evolving regulatory landscape. Our Q3 survey has revealed that now more than ever, change management and deep organisational integration are critical to overcoming barriers, unlocking value and building for the future of GenAI.
Costi Perricos, Generative AI leader at Deloitte said:
We are seeing continued enthusiasm for GenAI across organisations, and leaders are deriving the most value from the technology by deeply embedding it into critical business functions and processes. Our research indicates that the top benefits of GenAI are extending beyond improved efficiency, productivity and cost reduction, with more than half pointing to increased innovation, improved products and services, enhanced customer relationships and other types of value. The diversity of these value sources underscores the immense potential and versatility of this transformative technology.
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